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Ziopharm Oncology says net loss up 67% in 2005 due to greater R&D activity
By Angela McDaniels
Seattle, March 22 - Ziopharm Oncology Inc.'s net loss increased by 67% to $9.5 million, or $2.32 per share, for the year ended Dec. 31 from $5.7 million, or $2.37 per share, for 2004, according to a company news release.
The number of shares outstanding increased to 7.3 million in 2005 from 2.8 million in 2004.
The company attributed the increased net loss primarily to the development of ZIO-101 and ZIO-201, which resulted in a 167% increase in research and development expenses to $5.6 million from $2.1 million in the prior year.
No revenue was generated in 2005 or 2004. Interest income, however, increased almost 12 fold to $270,479 in 2005 from $21,269 in 2004.
Cash and cash equivalents were $8.9 million at Dec. 31, compared with $1.0 million a year earlier.
Ziopharm is a New York-based biopharmaceutical company that develops and commercializes in-licensed cancer drugs.
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